UT Athletics runs $4 million budget deficit

UT Athletics runs $4 million budget deficit

Posted:

KNOXVILLE (WATE) - The University of Tennessee's Athletic Department is running a deficit of about $4 million.

The department's most recent financial report shows it spent $110 million in the last fiscal year but took in $106 million.

The difference will come out of the athletics department's reserve fund, which will shrink to about $2 million.

It's worth noting that these aren't tax dollars. Paying former coaches' contracts, construction debt for new facilities and payments or gifts made to the rest of the university are some of the reasons cited for the deficit.

A release from the department points to recent restructuring and a number of other measures aimed at addressing the issue.

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